Trustmark Bank Trust Department Lowers Stake in The Home Depot, Inc. $HD

Trustmark Bank Trust Department reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.1% in the second quarter, HoldingsChannel.com reports. The fund owned 20,313 shares of the home improvement retailer’s stock after selling 232 shares during the quarter. Trustmark Bank Trust Department’s holdings in Home Depot were worth $7,448,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Norges Bank purchased a new position in shares of Home Depot in the 2nd quarter worth about $4,885,603,000. Laurel Wealth Advisors LLC lifted its position in Home Depot by 36,207.5% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 10,076,783 shares of the home improvement retailer’s stock worth $3,694,552,000 after buying an additional 10,049,029 shares during the last quarter. Nuveen LLC bought a new stake in Home Depot in the 1st quarter worth approximately $2,076,592,000. Valeo Financial Advisors LLC boosted its stake in Home Depot by 16,746.9% in the second quarter. Valeo Financial Advisors LLC now owns 4,537,880 shares of the home improvement retailer’s stock worth $1,663,768,000 after buying an additional 4,510,944 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Home Depot by 1.5% during the second quarter. Vanguard Group Inc. now owns 97,978,814 shares of the home improvement retailer’s stock valued at $35,922,952,000 after acquiring an additional 1,494,615 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Home Depot news, EVP William D. Bastek sold 2,303 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $423.12, for a total transaction of $974,445.36. Following the transaction, the executive vice president directly owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. The trade was a 8.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is currently owned by company insiders.

Home Depot Stock Performance

Shares of NYSE:HD opened at $356.98 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The company has a 50-day moving average price of $378.59 and a 200-day moving average price of $380.58. The company has a market cap of $355.33 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $436.36.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The business had revenue of $41.35 billion for the quarter, compared to analysts’ expectations of $41.06 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a $2.30 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.6%. Home Depot’s dividend payout ratio (DPR) is presently 62.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HD. DZ Bank restated a “sell” rating on shares of Home Depot in a report on Tuesday, November 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Home Depot in a research note on Tuesday. Truist Financial set a $379.00 price target on shares of Home Depot in a research report on Tuesday, November 18th. TD Cowen decreased their price objective on Home Depot from $470.00 to $410.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Finally, Wells Fargo & Company dropped their target price on Home Depot from $435.00 to $400.00 and set an “overweight” rating for the company in a report on Wednesday, November 19th. Twenty-two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $404.60.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.